BUA Group has dismissed reports claiming its Chairman, Abdul Samad Rabiu, submitted a $1.1 million (over ₦ 1.5 billion) bid to acquire a 70 per cent stake in Nigeria Premier Football League (NPFL) side Kano Pillars.
Earlier reports alleged that Rabiu, one of Africa’s wealthiest businessmen, had offered about $1.1 million to acquire a controlling stake in the four-time Nigerian champions.
The reports further claimed the proposed deal would allow the Kano State government to retain a minority stake while handing operational control of the club to the industrial conglomerate.
However, in a statement issued on Monday, BUA Group said the report was inaccurate and did not represent the position of either the company or its chairman.
“Our attention has been drawn to an online publication suggesting that BUA Group and its Chairman, Abdul Samad Rabiu, have submitted a bid to acquire a 70% stake in Kano Pillars Football Club,” the statement said. Related News FG, SSANU, NASU seal renegotiated 2009 agreement South Africa secures $14bn Afreximbank deal amid xenophobic attacks AFRICA FINANCE IN BRIEF: Africa's markets end first half on a strong footing
